AUGUST 2016 ORANGE COUNTY REAL ESTATE NEWS

MORTGAGE RATES DIP; LOAN APPLICATIONS DOWN, TOO

RATE NEWS SUMMARY  From Freddie Mac’s weekly survey: This week the 30-year fixed averaged 3.43 percent, 2 basis points better than last week’s 3.43 percent. The 15-year fixed averaged 2.74 percent, also two basis points better than last week’s 2.76 percent. The Mortgage Bankers Association reports a 4 percent decrease in loan application volume from the previous week. Source, OC Register, August 19, 2016 _________________________________________________ WHAT'S UP WITH MORTGAGE RATES? We asked one of our preferred lenders, Darren McLellan: CURRENTLY: Locally, well-qualified borrowers can get the following conventiional fixed rate loans with zero cost: 15-year at 2.75 percent, 20-year at 3.125 percent; 25- and 30-year at 3.375 percent; high balance ($417,001 to $625,500 loan amounts): 15-year fixed at 2.875 percent; 30-year fixed at 3.625 percent.  Darren McLellan   Partner 19600 Fairchild Road, Suite 150, Irvine, CA 92612 o 949.337.4000  c 949.933.9282  f 949.515.3623 darren@backbayfunding.com DRE #01368773 | NMLS #297075 backbayfunding.com

31405 Monterey Street

$2,249,000

Now the best priced home in all of the Coast Royal neighborhood. What a value at $2,249,000. Just across from the ocean front, yards to West St and Aliso Beach access! 3,100sf 4 beds, 4 baths with close ocean views. http://www.31405Monterey.com

1961 San Remo Drive

$2,499,000

Recent price improvement to $2,499,000. An extraordinary location with incredible privacy, downtown coastline views and mid century modern feel! http://www.1961SanRemo.com

JULY 2016 LAGUNA BEACH STATISTICS

Active - 277 Pending - 44 Sold - 42 2 - Less than $1,000,000 24 - $1,000,000 - $2,000,000 7 - $2,000,000 - $3,000,000 6 - $3,000,000 - $4,000,000 2 - $4,000,000 - $5,000,000 1 - $10,000,000+